Coin World Report:
According to the cryptocurrency de-anonymization platform Arkham, electric vehicle giant Tesla may still hold $772.5 million worth of Bitcoin (BTC).
Last week, Arkham marked a series of on-chain transactions indicating that Tesla had transferred its inventory of 11,509 BTC for the first time in two years.
However, according to The New York Times, these receiving addresses appear to be new wallets owned by Tesla.
“Bitcoin has been divided into 7 wallets, each holding 1,100 and 2,200 BTC. All holding wallets received test transactions, and all wallets except one hold a round of BTC.
Tesla’s current BTC holdings are as follows:
1Fah-2,109.3 BTC ($142.2 million)
1LERL-1,900 BTC ($128.1 million)
1D6Vh-1,800 BTC ($121.3 million)
16QZn-1,700 BTC ($114.6 million)
1QC2z-1,600 BTC ($107.8 million)
1Phab-1,300 BTC ($87.6 million)
1MGM8-1,100 BTC ($74.1 million)
Some speculate that this is a transfer to a custodian, such as obtaining a loan with BTC as collateral.”
In January 2021, Tesla purchased $1.5 billion worth of Bitcoin, then sold $272 million worth of BTC in the same year, and sold $936 million worth of Bitcoin in 2022.
According to The Wall Street Journal, in terms of market value, this car company is currently the fourth largest corporate owner of cryptocurrency assets.
In 2021, Tesla briefly allowed customers to pay for purchases using BTC, but later canceled this feature, citing concerns about Bitcoin mining’s environmental impact. Tesla CEO Elon Musk said the company may resume accepting Bitcoin payments once the mining process becomes more environmentally friendly.
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Generated image: Midjourney